Browsing: digital payments

A new alliance between fintechs Network International and Ant International is set to stir up the digital finance ecosystem in…

Remittances to Kenya dropped by $32.8 million as the economies in the source markets continued to grapple with higher inflation.…

Nala Money has Payment Service Provider licenses in several countries, including its founder’s home, Tanzania. In 2020, Africa’s e-payments industry,…

Registered customers for M-Pesa Ethiopia rose to 3.1 million from 1.2 million as of half the Financial Year 2023/2024, transacting…

Digital payment platform iPay has joined forces with Visa, a world leader in digital payments, to introduce Visa’s Tap-to-Phone technology to simplify digital payments for merchants and customers.

Dubbed Tap Ulipe, the solution is integrated into a sleek, portable, internet-enabled MobiGo 2 device, comparable in size to modern smartphones. It offers merchants many solutions beyond traditional payments without investing in clunky POS machines. In addition, merchants can also download the Tap to Ulipe app from the Google Play store on their Near-Field-Communication (NFC) enabled smartphones to accept contactless payments.

Competition in the remittance space has intensified with the entry of new players as the race for a share of the annual $95.6 billion in cross-border remittances flowing into Africa heats up. Airtel Africa has partnered with MasterCard to unveil a new service for cross-border remittances. Their deal will see customers in Kenya and 14 other African nations become the first beneficiaries of the service.

Airtel Africa and MasterCard will provide a seamless digital experience for consumers, connecting them with millions of peers worldwide. With a mushrooming diaspora community, remittances are now the largest source of forex in many African economies.

An infusion of new investments and regulatory transformations is shaping financial interactions and digital payments in Africa. Africa’s digital payments…

Kenya’s PesaLink payments ecosystem has signed a Memorandum of Understanding (MoU) with Mastercard to create innovative, digital-first payment solutions PesaLink…

In a report by GSMA released earlier this year, mobile money accounts grew to 1.2 billion with 43% of new users all from Africa.

Inferring from this growth rate in just one year, it’s clear that the market size for offline payments is significantly larger than online payments. In coming years, we’ll be focusing on this space even as we continue to grow in online payments.

In sub-Saharan Africa alone, there are 44 million micro, small and medium enterprises providing the majority of jobs effectively serving as the backbone of the economy in their countries.

At this very moment, as you are reading this someone in Africa is accessing the internet, drones are supplying medical kits in East Africa,…